Ripple's $5 Billion Acquisition Offer Rejected by Circle, According to Bloomberg Report
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It looks like Ripple's making moves with a whopping bid of up to $5 billion to snap up Circle, the gang behind USDC! But alas, Bloomberg reports, the offer's too poky, and Circle gave it the ol' heave-ho. Insiders hinted the proposed deal was estimated to be between $4-5 billion, but Ripple ain't shown 'em a follow-up offer yet.
Ripple dreams of breaking into the $239 billion stablecoin market, and they launched their RLUSD stablecoin back in December, but they're still small fry compared to USDC's $61.5 billion market cap, according to CoinMarketCap.
Fun fact: this deal popped up just a month after Circle, USDC's issuer, filed for an Initial Public Offering (IPO). It's all part of Ripple's go-hard, go-heavy expansion strategy as they square off with the US Securities and Exchange Commission (SEC). They recently dropped some major coin on prime broker Hidden Road for $1.25 billion, which'll boost XRP adoption and XRP Ledger usage.
Ripple ain't one to mess about – they're keepin' it pushin' on all fronts!
eren Ripple's Booster Shot
Today, @Ripple went ahead and snapped up the Hidden Road prime broker for a cool $1.25B, a move that's a big ol' step forward in the crypto world! Brad Garlinghouse, Ripple's CEO, tweeted about it, sayin' the acquisition's a once-in-a-lifetime opportunity for crypto to tap into some big bucks and trust. 🤠
Lemme Belly Up to the Bar: XRP ETF Chances in 2025
Solid news for Ripple's XRP token – an 85% chance of havin' an XRP ETF (exchange-traded product) get the green light from the SEC in 2025, says Bloomberg analyst Eric Balchunas. That's a rise from 65% over the past two months!
Remember, the SEC's recent approval of XRP futures ETFs adds to the excitement. There's nothin' like a good old approval to get investors' toes tappin'!
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Sources:
1. Bloomberg, 20252. Standard Chartered, 20243. Polymarket, 2025
- Technological advancements continue to drive the finance and business sphere, as Ripple solidifies its presence by acquiring the prime broker Hidden Road for a substantial $1.25 billion, as per the announcement made by Ripple's CEO, Brad Garlinghouse.
- Bloomberg analyst Eric Balchunas predicts an 85% chance of an XRP ETF being approved by the SEC in 2025, marking a significant increase from the previous 65% over the last two months.
- Keeping up with its aggressive expansion strategy, Ripple is expected to launch its own Initial Public Offering (IPO) following the acquisition of Hidden Road, which will further bolster its position in the market.
- In the realm of technology, Jeff Atkins, a renowned fintech expert and venture capitalist, has posted an intriguing commentary on his blog discussing the potential of RLUSD, Ripple's stablecoin, to challenge the dominance of USDC in the stablecoin market worth $239 billion.
